The St.Joseph School Foundation is a 501c3 organization managed by a Board of Directors by consent of the Bishop of Birmingham in Alabama. All decisions regarding the collection, disbursement and investment of funds is at the discretion of the Board so long as it complies with the Articles of Incorporation and By-Laws of the organization.
All donations received by the Foundation are held in the Endowment Account. Endowed funds are invested solely in Government backed securities. Interest earned on the Endowment is transferred to an Escrow account for investment and disbursement. Investment income and capital appreciation is used to grow the funds of the Foundation and contribute to the operation of St.Joseph Regional Catholic School.
Disbursement from the Foundation Escrow account is solely for the benefit of St.Joseph Regional Catholic School. Donation amounts are determined annually by the Board of Directors based on the performance of the Foundation financial investments and the operational needs of the School.